HSBC plans three-year barrier participation notes linked to S&P 500

By Susanna Moon

Chicago, Dec. 30 – HSBC USA Inc. plans to price 0% barrier participation notes due Jan. 29, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par plus at least 100% of any gain. The exact participation rate will be set at pricing.

If the index falls by up to the 75% trigger level, the payout will be par.

Otherwise, the payout will be par plus the index return, with full exposure to losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Jan. 26 and settle on Jan. 29.

The Cusip number is 40433UFU5.

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